Caribbean Development Bank appoints new president

BRIDGETOWN, Barbados, CMC – The Barbados-based Caribbean Development Bank (CDB) Wednesday announced the appointment of Barbadian Daniel Best as its new president, replacing St Lucia-born economist, Dr Hyginus 'Gene' Leon, who resigned from the financial institution earlier this year.

In a brief statement, the CDB said that the Board of Governors had named Best to be the bank's seventh president and that “this decision, reached today, underscores the bank's commitment to visionary leadership and sustainable development across the Caribbean region.”

It said that Best, who holds a Master's Degree in Business Administration from the University of Durham in England, as well as a Master's degree in Construction Engineering and Management and a Bachelor's degree in Civil Engineering from the University of the West Indies (UWI), “brings a wealth of experience and a deep understanding of the region's development challenges and opportunities.

“With a distinguished career spanning over 20 years in development finance, policy planning, and infrastructure investment, he is well-positioned to lead the CDB into its next chapter of impactful regional transformation.”

The statement said that as the new CDB president, Best will oversee its strategic direction, focusing on its core mandate to reduce poverty and inequality while fostering inclusive and sustainable growth.

“Under his leadership, the bank aims to build on its legacy while addressing emerging challenges and opportunities in a rapidly changing global landscape,” it added.

Best, the senior infrastructure and development adviser to Prime Minister of Barbados, Mia Mottley, is reported to have secured the top position at the bank after edging out the Trinidad and Tobago candidate, Gregory Hill, who currently serves as the CDB's vice president, finance and corporate services,

A third candidate, Bahamian Therese Turner Jones, who is the CDB's acting vice president of operations, was withdrawn from the election in November.

In April, Leon, who was sent on administrative leave by the bank in January of this year, said he was stepping down as he believed that he would not be treated fairly if he returned.

His St Lucia-based lawyers then said “It is also evident that the bank has lost all trust and confidence in our client by the failure of the Board of Governors to prevent the continued violations of its Charter, policies, rules and regulations with regard to its elected President.”

However, since then the CDB has remained mum on the circumstances surrounding the decision to send Leon on administrative leave.

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